Phosphoric Acid, Phosphates & Fertilizers Experts

AVENIRA: DECEMBER 2017 QUARTERLY ACTIVITIES REPORT

BAOBAB PHOSPHATE PROJECT

• Positive engineering studies conducted by Hatch on Baobab Expansion and Upgrade project opportunity
• Feasibility Study oriented work and approvals are progressing, with Final Investment Decision expected after completion of the Feasibility Study
• Third sale of rock phosphate product to customers completed in early January
• No lost time injuries during the period
CORPORATE

• Successfully raised A$15 million via Entitlement Offer and Placement
• Repaid in full shareholder loans totalling US$4.9 million plus interest
• Appointment of Mr Brett Clark as independent non-executive director
• Cash balance at 31 December 2017 of A$ 2.4 million (final A$3.6 million of the Entitlement Offer funds have been received in January)

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